Harju County, Estonia, March 02, 2021 (GLOBE NEWSWIRE) — Because the cryptocurrency market continues to mature, crypto initiatives additionally proceed to evolve additional driving the evolution of the market. To date, we’ve seen cryptocurrency initiatives with a set provide for the native tokens. The last word goal right here has been to create shortage and drive crypto costs increased.
Now, we consider it’s time for creating elastic provide of decentralized digital currencies. KGR is one such dynamic and utterly decentralized elastic provide protocol that goals to cater to the liquidity wants of the broader crypto market, and extra importantly, to unravel the problems of market manipulation.
The KRG cryptocurrency achieves higher steadiness of provide and demand because it correlates an artificial asset’s worth completely with the value of its underlying asset. The KGR token is mainly an elastic cryptocurrency with its goal worth at 1 Japanse Yen adjusted for inflation.
The worth of KGR might be increased or decrease than 1 Yen, nonetheless, the availability is all the time adjusted to fulfill the goal of 1 Japanese yen (¥). If excessive demand drives the value increased above 1 Yen, the Himegami protocol will add extra provide making a promoting stress and a ‘rebase’ motion. To distribute the KGR token to the token holders, the system would be capable of problem 100,000 tokens per rebase then promote it on public exchanges following a ﬁrst-come-ﬁrst-serve rule. The unsold tokens within the day will probably be burned. This technique was carried out in sensible contracts. This makes KGR one-of-its-kind cryptocurrency with such flexibility and provide elasticity.
The Himegami rebase system is carried out each 1385 minutesto rebase the availability. The rebase operate is a brand new idea to the crypto market and is mainly related to provide smoothening for decentralized elastic provide tokens like KGR.
For the reason that KGR tokens develop and contract based mostly on the demand and provide, the rebase mechanism ensures that the proportion holding for customers stays the identical.
We envision the Himegami protocol to be a hedge asset for the entire crypto world in addition to to the rising sector of Decentralized Finance (DeFi). The soundness of KGR may help DeFi buyers to cut back their dependency on among the centralized stablecoins. It will probably work as a hedge asset, a DeFi collateral, and a secure medium of trade for your entire crypto area.
We’re positioning KGR as a helpful crypto token and a collateral asset for Decentralized Finance (DeFi). Its distinctive qualities like decentralized, worthwhile, self-governing, and extra secure asset, makes it vital to DeFi. Sooner or later, KGR could have a number of totally different purposes and can be utilized to complement different DeFi initiatives like Tezos, Polkadot, Cardano, and others.
Moreover, the programmatic rebasing protocol goals to unravel the problem of large fluctuations in liquidity and volatility by making it extra predictable and rewarding for everybody concerned.
This enables us to place Himegami not solely within the present crypto ecosystem however create a complete new host of purposes for it within the personal DeFi ecosystems of tomorrow that many haven’t even been considered but.
Himegami Protocol Founder Leo Bai